Searches And Hires
The board replaced existing passive domestic equity and hedge fund managers at a meeting last month.
City is seeking investment advisory services for its investments, a majority of which are held in local government pools.
The pension plan recently committed approximately $7.4 billion total to six funds and terminated 12 existing strategies.
The retirement fund liquidated a $243 million international equity mandate and made commitments totaling $770 million in December.
The hire resulted from a new asset allocation change.
Growth, core and value styles will all be considered in the search.
A total of five firms submitted proposals to an RFP issued in the fourth quarter.
The plan also made a direct lending commitment in the fourth quarter.
The selected firm will help manage the authority’s bond proceeds.
The retirement system terminated its domestic core real estate manager after being informed of its underperformance and personnel changes in December.